Technical Specification

An overview of the technical specification and user flows for demSOL.

$demSOL is constructed using the OFT-20 Omnichain token standard from our partner, LayerZero.

$demSOL will initially be made available on Taiko. As a LayerZero-compatible token, it can be seamlessly bridged to any of the LayerZero network chains.

Minting process in detail:

• The user engages with the Demether front end on Solana to deposit $SOL or $jitoSOL and must pre-select the destination chain to mint demSOL.

  • SOL may be swapped for an accepted LST (e.g., JitoSOL), the base asset (SOL) or a dollar-based stablecoin (e.g. USDT, USDC) via a pre-configured liquidity pool on a reputable venue such as Jupiter or Raydium to leverage deep liquidity and minimize slippage.

  • The LST is restaked with Jito to generate rewards;

  • $demSOL tokens are minted and deposited into the user's wallet on the destination chain (aka partner chain).

• If the user flow starts on Jito's own front end, assets are processed natively on Solana to mint dmSOL , which then has to be deposited into Demether's front end to mint demSOL and bridge to a destination chain.

• Tokens are not locked on the destination chain by Demether; users are free to bridge their demSOL using LayerZero-supported bridges or any other preferred bridging method as needed.

Yield boost process in detail:

• Wallets controlling (but not necessarily directly holding) demSOL on a partner chain for a full 7-day period are eligible to receive a loyalty yield boost.

• The number of eligible demSOL tokens is calculated pro-rata based on the minimum balance controlled by that wallet over 7 days, relative to the total circulating supply of demSOL on that chain.

• Claims can be made via the Demether dApp on the corresponding claim page.

• Eligible rewards are calculated on Demether's backend systems.